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Month: May 2020

Privacy coins emerged as a revolutionary solution for security concerns in the crypto world. If those coins are in your investment target, this article is here to help.

This article provides all you need to know about privacy coins

The importance of privacy cryptocurrency

Privacy coins were invented to help its users obscured their identity and data of digital assets. As being known, the transactions of classic cryptocurrencies, like Bitcoin, are traceable by anyone in the blockchain. Even though the deals do not accompany any personal information of traders, the public addresses in there are often more than enough for other parties to track the transaction.

In contrast, privacy coins employ a wide range of protocols and technologies to conceal all of the details related to both involved parties of the transaction. Users can be self-assured when trading privacy coins because no addresses or transaction amounts are recorded. Therefore, their identity and the value of their digital assets are also hidden in the shadow. In short, privacy coins bring an anonymous crypto environment for investors to trade and claim full control over their assets.

Although there are a lot of concerns about criminal activities associated with the use of privacy coins, the benefits they offer to crypto investors are undeniable. That’s why they are increasingly popular in recent years, regardless of criticism. This popularity facilitates the creations of many privacy coins in the market, including those five introduced below.

Privacy coin: Top picks

1. Monero

Monero is one of the most famous coins with feature-rich towards privacy

Monero is one of the most popular names among the privacy coins segment. In spite of its popularity, interestingly, most founders of this famous coin don’t want to cover themselves with fame. Five among seven original Monero’s developers decided to hide their identities to the public. This quite aligns with this coin’s characteristics.

The main thing that makes Monero outstanding is its privacy-focused features. The first thing to mention is Ring Signature which enables traders to hide among a group of users who share keys. The transaction is approved through a signing key that can be made from any member in a particular group of account holders. The outsiders who want to observe transactions will only be able to see those electronic signatures without identifying the identity of an individual signature. This means that it is much more difficult to link the specific account holder to any transaction.

Besides obscuring user’s addresses, Monero also released a new technique call RingCT (Ring Confidential Transactions), which adds an additional layer of privacy by hiding the transaction value. Moreover, this privacy coin is also enhanced with the use of the stealth address. It is a one-time address that produced randomly every time transaction is made. Thanks to these features, the transactions are kept completely secret and can not be exploited by anyone outside.

2. Zcash

Zcash is also the name that investors may hear regularly when talking about privacy coins. The creation of this coin is mainly inspired by Bitcoin. The developer of Zcash made some changes in the original Bitcoin code to create a new and more private cryptocurrency. Hence, Zcash is also called as a fork of Bitcoin.

The most innovative feature of Zcash compared to Bitcoin is privacy. Not only concealing the addresses of transaction recipients, but Zcash is also so private that the only information revealing in the transaction is date and time. The secret behind is Zero-knowledge Proof. To briefly explain, this is a technology that helps sender and receiver verify the transaction without disclosing any personal information. The use of this technique helps prevent all the cases that transaction details are shared publicly in the blockchain, or recipients’ information is stolen and exploited.

Apart from privacy protection, Zcash is also more scalable with the ability to deal with more transactions at one time. Additionally, one more advantage of Zcash is a quick transaction processing time. The time for Zcash system to confirm a new block, which carries new transactions, is only 2.5 minutes, whereas, Bitcoin takes 10 minutes to do the same.

3. Bitcoin Private

Another Bitcoin’s fork in the list of privacy coins is Bitcoin Private. Actually, Bitcoin Private is the product of fork-merge between Bitcoin and Zclassic, and of course, the main purpose is also to create a more privacy-centric coin.

The outstanding technology used by Bitcoin Private is zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge). Simply, zk-SNARKs is an advanced version of Zero-knowledge Proof, by both of which transactions are confirmed without necessary reveals of personal information. Additionally, with zk-SNARKs, the interaction between prover and verifier is also eliminated. This technology also obscures transaction metadata, which can be used to identify transaction recipients. Therefore, the transaction details and identity of both parties can stay anonymously and safely.

Similar to Zcash, Bitcoin Private also shows an advantage over Bitcoin by performing a faster transaction process with only 2.5 minutes. In addition, it utilizes a larger block size to 2MB, instead of 1MB as original Bitcoin.

4. Beam

Beam belongs to the young generation of the privacy coins market which is enhanced more privately and efficiently in comparison to predecessors. Beam is developed with a new technology used for the first time in the crypto world, which is Mimblewimble blockchain protocol.

Mimblewimble integrated both Confidential Transactions (CTs) and Pedersen Commitments Scheme in order to complement each other. This combination generates a “blinding factor” that helps both parties hide the exact amount of funds in the transactions by multiplying the transacted amount with a random value. In addition, this “blinding factor” also plays a role as the signing key for the transaction. By these, the transaction details are secured completely and prevented from being traced by the prying eyes.

Moreover, Mimblewimble can overcome the drawback of CTs, which is the cumbersome transaction process, by combining blinding factors and dummy outputs. As a result, the use of CTs in Mimblewimble still reaches the highest level of privacy for users without lower productivity of the whole system.

5. Apollo

Apollo is an all-in-one cryptocurrency among privacy coins

Apollo Currency has claimed itself as a revolution in the privacy coin market. Taking the advantage of a young coin, Apollo was designed with the best of forerunners by combining various features of 20 existing cryptocurrencies in one system, in order to become “all-in-one cryptocurrency, as to how the founder talks about this coin.

Apollo Currency was built based on a totally brand new system called Olympus Protocol. This protocol is the aggregation of many functions that have been seen in the other altcoins before, such as low transaction fees, fast transaction time, multi-platform wallets, and many more. Among those features, there are several that integrated for privacy purposes.

The first worthy to mention is Coin Shuffling. This feature allows account holders to hide the owning funds and transaction details by mixing up the coins between users. Additionally, IP Masking collaborated with the use of the Tor network, which is another privacy-focused feature to provide the implementation of untraceable transactions. These integrations create a very high level of anonymity that can satisfy investors who are considering investing in this coin.

Privacy wallet: another optimal solution for the identity-hiding issue

If privacy coins do not align with the investment desires of crypto holders, a privacy wallet like Incognito Wallet is another wise choice. With Incognito, users can invest in any cryptocurrency as they want without concern about privacy problems. This is achieved thanks to privacy-oriented features that the wallet offer to help users send and buy crypto anonymously.

Incognito Wallet also integrates Zero-knowledge Proof which is also used by many popular privacy coins mentioned previously. This technology allows the wallet to implement untraceable transactions to keep information confidentially for users. Incognito Wallet is designed with Incognito mode to help crypto traders trade anonymously. By connecting to the public blockchain via a trustless portal, users can exchange their original coins to the privacy version at the rate 1:1. This version of the private coins will let traders implement transactions in complete anonymity and avoid any tracing activities from onlookers.

Incognito Wallet can be used on both iOS and Android platforms and totally free. Crypto investors who are interested in this wallet can get more information via the official website or contact supporting team for a quick inquiry.

A vast majority of investors nowadays demand privacy in trading Bitcoin. This article will provide a detailed guideline of how to buy Bitcoin anonymously.

This article is the full guideline to buy Bitcoin anonymously

The rationales behind the need for anonymous Bitcoin buying

There are a dozen reasons that a Bitcoin investor can mention when choosing to buy Bitcoin anonymously. However, most of them will agree on the main followings.

Bitcoin is not private crypto, but pseudo-anonymous. Therefore, Bitcoin transactions are traceable. Those deals are recorded in a public ledger forever and can be accessed by every node in the blockchain. This facilitates the hackers to easily link the user’s public addresses to their identity and track the value of the assets they are holding.

It may waste time. The identity verification process for buying may cost crypto holders several days to go through. Time is gold in the investment and some people can not wait, as they could lose a lot of money if missing the good chances.

Legal issues become a big barrier. Bitcoin has attracted the huge attention of governments in recent years. Many nations are working on building crypto-related laws, and some have banned or restricted the use of this crypto. This makes the public trade of Bitcoin more difficult to implement.

Buying Bitcoin anonymously can solve all of these issues by allowing traders to conduct transactions that can not be traced by any cybercrime or government agent, with a lot faster time than waiting for the verification process. Crypto holders can learn more about different methods to buy Bitcoin in anonymity in the rest of the article.

1. Using Bitcoin ATMs

Bitcoin ATM is becoming more popular to buy Bitcoin anonymously

Many crypto investors may hear about Bitcoin ATM. Working similarly as normal ATM, Bitcoin ATM is the physical kiosk that allows users to make transactions directly in there. Even though some ATMs may require identification, this method is still considered as one solution to buy Bitcoin anonymously because it offers some ways to conduct private transactions.

Crypto buyers can come to the nearest ATM and buy Bitcoin with cash. If the user chooses not to reveal the wallet address, the ATM will issue a paper wallet. Crypto holder can then import this amount of Bitcoin to any other wallets that they would like to store their coins.

Investors are also able to find the ATMs that only require a prepaid credit card, which can be bought in many supermarkets or convenience stores. There are also some ATMs that allow verifying through SMS and a burner phone can solve it.

2. Joining peer-to-peer (P2P) platforms

Buying Bitcoin anonymously via P2P exchange is a method in which buyers and sellers can trade Bitcoin directly with each other without the interference of the third parties. There is no fixed payment method in the P2P platforms but depending on the agreement of both parties and varied by cases.

Cash payment

The easiest way to buy Bitcoin anonymously is by buying it with cash in-person. That could be great if an investor knows some friends or a community group that shares an interest in using Bitcoin. They just need to contact within their network or post trading advertisement in the forum of community and wait until someone accepts the deal. Then both parties can meet directly and make the transaction by cash. This is the most trusted source that a crypto holder can use to buy Bitcoin anonymously.

Cashless payment

If having none, investors still can find other crypto holders to trade. Paxful is a useful tool to help. It plays the connection role to help buyers and sellers find each other. To start trading, users just need to register with an email. ID verification is not mandatory. By doing so, crypto investors can hide identification and buy Bitcoin anonymously as they wish. However, anonymity may limit the number of Bitcoin sellers who are willing to accept the transaction. Other websites offer similar features are Holdhold or LocalCoinSwap. These sites offer various payment options to choose, such as bank account transfer, debit/credit cards, online transfer, and gift cards.

3. Trading in fiat-to-crypto exchanges

As its name suggests, this method allows investors to buy Bitcoin in the exchange of the government-backed currencies. However, unlike P2P platforms, buyers and sellers will exchange fiat money for Bitcoins by cash deposit, with the involvement of third parties. This type can also be called a centralized exchange. One downside of this type of exchange is that a high fee will be charged.

Bitquick

Bitquick is one of the famous exchanges to buy and sell Bitcoin. The website interface is intuitive and easy to use, even for crypto newbies. It is also a mobile-friendly design that can be used in the mobile interface. However, the exchange has not offered any app version on iOS or Android platforms. Bitquick allows only one payment method which is cash and it accepts five fiat currencies at the moment.

Bitquick offers users to buy Bitcoin anonymously by cash deposit

This exchange has a very high level of anonymity in trading. There is no need for ID verification in order to buy Bitcoin in Bitquick. In fact, crypto investors don’t even need an account to do so. Wallet address and email are enough for users to start trading. In some specific cases, it may require SMS verification, but not always.

4. Trading in crypto-to-crypto exchanges

It is also a form of buying Bitcoin online but instead of using fiat currencies, traders can exchange other altcoins to get Bitcoin in return. Most crypto-to-crypto exchanges are built based on decentralization. The decentralized exchanges allow peer-to-peer cryptocurrency trading without relying on third parties, similar to P2P. However, the decentralized and P2P are different types of exchange and co-existed in the crypto world

Changelly

Changelly supports over 150 cryptocurrencies in total. It has two main features that are selling those cryptocurrencies and allowing to exchange one crypto to another. It means that crypto holders can use any other type of coins, such as Ethereum, Dash, Zcash, etc., and convert to Bitcoin.

Investors can exchange many other types of altcoins for Bitcoin

Changelly allows crypto holders to trade instantly without registering or verifying identity. This is a big plus for privacy-seeking investors who want to buy Bitcoin anonymously. Additionally, with Changelly, the fee for all transactions is guaranteed at 0.5%. However, in fact, users will have to experience a considerably higher fee when trading in fiat currencies, such as buying Bitcoin with a credit card. This shows that crypto holders may be more beneficial when using Changelly for crypto-to-crypto exchanges.

5. Using privacy wallets

The final method to buy Bitcoin anonymously is using a privacy wallet. Most crypto wallet nowadays is not only used to store cryptocurrencies but also allowing users to buy and sell digital money. Even though it can not become a full-function exchange which can match buyer and seller together, privacy wallet offers a very high level of anonymity for crypto transactions.

Incognito Wallet

Incognito Wallet is a highly recommended option to send and buy crypto anonymously. This wallet is well-known by integrating Zero-knowledge Proof technology by which crypto holders do not necessarily verify their identity to complete the transaction. Therefore, Incognito Wallet’s users can buy Bitcoin anonymously without the concern of revealing the identity. This also helps their transactions untraceable in the blockchain network.

Incognito is a safe and convenient choice to buy Bitcoin anonymously

Incognito Wallet is very easy to use, no matter how old or new the users are. Just with a single tap, the seller can switch the wallet into “Incognito Mode” where Bitcoin will be converted to privacy Bitcoin at the rate 1:1. In addition, instead of directly connecting to the public blockchain, the wallet works through a trustless portal and conducts transactions completely in anonymity. The buyers will receive the privacy Bitcoin in their wallet that helps hide all of the information like transaction details, buyer’s identity, and their account balance away from the third parties. Those privacy coins can easily be switched back to the original version.

With this important feature, it would be no exaggeration to say that Incognito Wallet is a wise choice of crypto investors who are seeking for a solution to buy Bitcoin anonymously, and even other altcoins.

Have you ever wondered if it’s possible to buy Bitcoin without ID and anonymously? This article will provide you with the ultimate answers to that question.

Let’s get to know how to buy bitcoin without ID

Why you might want to buy bitcoin without ID

You may have heard or read somewhere that untraceable transactions are often linked with illegal activities. In fact, crypto users have some legitimate purposes to stay anonymous when sending or buying bitcoins.

The first and foremost reason for buying bitcoin without ID is security. Normally, your Bitcoin transactions are recorded on a public ledger, which is viewable to anyone within the network. Although these transaction details don’t contain personal information like your email or physical address, the KYC process required for trading on a licensed exchange may expose your identity once the site is hacked. If someone gets your ID, they could use it to blackmail or harass you.

The second reason is confidentiality. If you’re a financial investor or an employer who regularly uses Bitcoin as payment and/or investment method, you may want to buy coins anonymously. By keeping your transactions untraceable, your financial status and account balance can remain private.

Buying bitcoins with cash

There are several ways to obtain bitcoins with cash that guarantee your anonymity.

In-person purchase

Among all methods to buy bitcoin without ID, a face-to-face purchase is perhaps the most anonymous way as no one can’t find out about your buying amount, except yourself and the seller. Most individual sellers don’t ask for your ID when trading but they would want to see you in person.

You need to choose reliable sellers when buying bitcoin in-person to avoid scams or attacks

As a non-custodial marketplace, LocalBitcoins don’t hold your wallet so you could have full ownership of your assets.

A number of websites and apps offer features that connect local buyers and sellers, namely Paxful, Mycelium and LocalCryptos. When using these tools, you don’t need to provide personal details, instead use an alias email for registration.

Bitcoin ATMs

Despite not being prevalent in some countries, Bitcoin ATMs is one of the best methods to purchase bitcoins with no ID verification. To use these machines, you need to scan your public address and deposit a certain amount of fiat currency. After that, the ATM will deliver an equivalent amount of bitcoin to your wallet.

In some cases, if you don’t want to enter your public address or don’t have one, just select the option “don’t have an address”, then the ATM will print out a paper wallet for you. Also, you can use online maps such as Buy Bitcoin Worldwide or Coin ATM Radar to find the nearest bitcoin ATMs available.

Bitcoin ATM is a great way to buy bitcoin without ID, however, its biggest downside is that the mark-up fee is relatively high, usually around 5-10%.

Buying bitcoin on peer-to-peer marketplaces

One of the most common methods to buy bitcoin without ID is though peer-to-peer marketplaces. These online options allow you to trade fiat currency for bitcoins in anonymity by using disposable prepaid cards.

LocalBitcoins

If you’ve been into the crypto sphere for a while, you’ve definitely heard of LocalBitcoins. The site pairs up buyers and sellers on an individual basis. Then, both sides could create a deal and agree on trading terms. The payment method, whether it is Paypal or bank transfer, and the limit amount traded are set by the sellers in the first place.

LocalBitcoins is a popular marketplace for people to buy bitcoin without ID

As a non-custodial marketplace, LocalBitcoins don’t hold your wallet so you could have full ownership of your assets.

Bisq

Bisq is a decentralized peer-to-peer marketplace for cryptocurrencies. As a desktop application, it is available to download and install to Windows, Linux and iOS.

Bisq offers the privacy feature by utilising Tor and a decentralized procedure from placing and matching order to executing it. Users don’t have to worry about the risk of losing money if the site is attacked because Bisq doesn’t hold any of your assets on their server or account. Moreover, Bisq currently supports a wide range of cryptocurrencies, up to 126 different tokens. Nevertheless, it may not be useful for large trade volumes.

Buying bitcoin on an exchange

Another way to buy bitcoin without ID is on decentralized exchanges. However, you may need to have some other digital tokens in order to purchase bitcoins.

Shapeshift

Shapeshift requires no login or registration, it simply makes a “swap” between altcoins like ETH, LTC, DASH and BTC. The process is pretty easy as you just need to select the coins you want to deposit and receive, then enter your Bitcoin address. The site also asks for your altcoin address to refund if any problem occurs to the transaction. And that’s all you have to do to purchase bitcoin without an ID.

Buying bitcoin with cryptocurrency wallets

This method may sound unfamiliar with many crypto users but it indeed helps you buy bitcoin without ID. But first, you need to know a trusted seller as these wallets don’t support matching you with other traders. Then, you can use the wallet apps to make anonymous transactions.

Incognito Wallet

Incognito is a privacy-oriented wallet for cryptocurrencies like Bitcoin. Based on the idea of “Incognito mode”, the wallet allows you to send, receive and store bitcoins in anonymity. Therefore, your account balance and history of transactions can remain private.

Incognito allows you to buy bitcoin without ID verification

Incognito functions as a sidechain for privacy coins and attaches to Bitcoin blockchain via a trustless portal. Through the use of smart contracts and trustless custodians, the privacy version of Bitcoin and other cryptocurrencies is issued at a rate of 1:1. When you want to switch those tokens back to normal coins, you could do in just one tap without involving any third party.

So how could you buy bitcoin without ID through Incognito? There are 2 options for you:

Option #1: Receive private Bitcoin (pBTC) from sellers then switching them back to BTC if needed.

Option #2: If the sellers don’t have pBTC, they can deposit BTC to your address and these coins will automatically turn into BTC.

With this method, both seller and buyer can keep their transactions untraceable, especially suitable for those who look to send and buy crypto anonymously.

Conclusion

This article has introduced to you a variety of ways to buy bitcoin without ID. Even though obtaining bitcoin anonymously may take a bit of extra cost and time, the privacy provided is totally worth it.

The rise of Proof-of-Stake (POS), has made huge changes in the crypto world, including the emergence of private POS crypto, which will be explored in the content below.

Private POS crypto is still new in the market and will be discovered in this article

What is Proof-of-Stake

POS is a less costly alternative to an existing consensus mechanism called Proof-of-Work (POW). POS is a protocol in which new blocks are produced and validated through staking. The participants (a.k.a nodes) will have to stake their cryptocurrency to the network and then be randomly chosen by an algorithm to become validators, instead of miners as in POW.

Although this process is designed to happen randomly, the node with a higher stake and longer coin age (the amount of time a node holds coins, at least 30 days) may have a bigger chance to be picked.

Those deposits will be frozen for a certain length of time, which is called the unbonding period. If the validator is no longer participating in the POS network, the stake will be unlocked after a while, not immediately. Although the money is locked, validators are incentivized to do so because of the reward. Whereas the reward amount is fixed in the POW system, it is variable in POS protocol and mainly depends on the number of validators participated at the same time.

Private POS crypto

Simply, a privacy coin is a cryptocurrency that is able to obscure its user’s data. It means that the confidential information, such as IP addresses, sent or received funds, and account balance, will be hidden in the blockchain network and only accessed by users. This can help crypto holders keep their identity and financial status away from hackers, technological criminals, governments, or business partners.

Private crypto is not a new concept. It has actually become increasingly popular in recent years. However, users may be much more familiar with private POW coins rather than private POS crypto. In fact, private POS crypto has fallen behind in both terms of quantity and popularity in comparison to POW ones.

Traders can easily name some of the private POW coins, for example, Monero, Zcash, Verge, Bitcoin Private, and so on, but still be vague about private POS cryptos available in the market. Therefore, the list of some private POS cryptos will be discovered right below in order to provide more information and suggest more options for traders to consider.

1. Dash

Dash is the most popular private POS crypto that can be able to compete to other POW coins

Dash is the most well-known name in the list of private POS crypto. In fact, Dash is not truly POS crypto. It still uses POW as consensus mechanism to mine new coins but also integrates the Masternode network of POS. Therefore, it is considered as a hybrid of POS and POW.

The use of Masternode bring to Dash the most crucial feature which is PrivateSend. Basically, this is a coin-mixing process in which at least three people are required to join. The request for a private transaction will be sent to the Masternode (which is known as a computer wallet that maintains and provides specific services in the blockchain).

Your request is matched with other transactions happening at the same time and the coins will be mixed up inside the network. This process contains several rounds that are independent of each other to help improve the level of anonymity of traders. Ultimately, crypto will come safely to receivers and all the details of involved parties and transactions will be completely hidden in the blockchain.

Another key feature of this crypto is InstantSend. As indicated in the name, this feature allows Dash transactions to be verified in a few seconds, almost instantly after users start a payment. This brings a big advantage for Dash when competing with other cryptocurrencies.

2. PIVX

PIVX is believed to be a new revolution in the segment of private POS crypto

PIVX stands for Private Instant Verified Transaction and is designed to be a new generation of private POS crypto segment. PIVX is an upgrade aggregate of Dash and Zcoin, but eliminated the weaknesses of both predecessors.

Privacy is the most important feature that users are looking for in PIVX. This coin is completely anonymous and obscures all of the user’s information. This feature is achieved thanks to the use of Zerocoin Protocol. With the help of a separate private coin, called zPIV (with PIV denotes for PIVX, z is for Zerocoin), this protocol allows all the transactions to be made without linking them to the original coin’s history. zPIV is created, as a return for “burning” PIV in the network, and then used for the transactions.

The conversion rate between PIV and zPIV is 1:1, which means their values are the same and can be swapped to each other with a very small fee of 0.01 PIV. Besides that, PIVX also released zPOS (Zerocoin Proof of Stake) to offer users the very first private staking system in the crypto world.

Apart from privacy, PIVX is also integrated with SwiftTX. This feature enables near-instant transactions, similar to Dash, which allows PIVX users to complete transactions within a second with a nominal cost. One more unique point of PIVX is that unlike the other cryptocurrencies, PIVX has unlimited supply and can be continuously generated.

3. NAV Coin

Despite low popularity, NAV Coin is still expected to become a popular private POS crypto with many new features coming soon

Another name in the list of private POS crypto is NAV Coin. NAV Coin is the first cryptocurrency that switches from POW to POS as consensus method. However, it is still underrated in the market of the privacy-centric coin.

NAV Coin uses the NavTech subchain to protect the privacy of crypto holders. NAV Coins will be sent to a subchain of the main blockchain, instead of coming directly to the receiver. This subchain will pass the transaction around through multiple servers to make sure that no one is able to follow and trace the transaction details before it goes to final destinations.

Although the process may sound long, traders do not need to wait too long for a transaction to be completed. This fast transaction time is also an upside of this crypto. Besides that, the company also plans to develop and release more privacy-focused functions, such as fake transaction and dummy accounts, in order to increase the level of anonymity.

4. Others

The list of private POS crypto should be longer with other names, for example, NIX, Beldex, Phore, and Particl. Each of them has its own unique features that can satisfy the diverse needs of users. However, those cryptocurrencies are still new with a low level of popularity and need more time to set a foothold in the market.

Another solution for private transactions in the crypto world.

Besides using private cryptocurrency, investors also have one more solution to protect the privacy of transactions. It is to send and buy crypto anonymously with Incognito Wallet.

Incognito Wallet is a new solution to protect privacy in trading cryptocurrency

With this mobile wallet, users do not necessarily invest in any private coin to be able to trade in anonymity. All they need to do is to choose the cryptocurrency that they want to use and let’s Incognito Wallet help to conduct totally private transactions.

Once turning on “Incognito mode”, the cryptocurrency for a transaction will be converted to a private coin, which is unable to be traced in the blockchain, at the rate 1:1. This privacy version will then be used in the transaction and the details of this process will be hidden to the third parties. It helps investors not to necessarily care whether the crypto is private or not and they can trade anonymously with any type of digital money that this wallet supports.

Investors can easily get Incognito Wallets on their iOS or Android smartphone. All of the amazing functions of this wallet can be found on the website or contact us for more information.

Privacy in the Bitcoin investment world is indeed needed. This article will attempt to solve this issue by suggesting a list of the most anonymous Bitcoin wallets.

You can find the most anonymous Bitcoin wallets in this article

What is an anonymous Bitcoin wallet used for?

When everything comes to the Internet, one of the most worrying issues is how to protect the user’s identity and assets against the onslaught of technology criminals. The Bitcoin investors have reasons to worry even more due to the huge amount of money they spend on this virtual currency.

In fact, Bitcoin is not an entirely anonymous cryptocurrency. Even though Bitcoin transaction does not have any link to the trader’s identity, the public address in the transaction is publicly broadcasted to the network and can be accessed by anyone. This public address is the key for hackers to trace back the personal information of crypto holders. Because of this, despite claiming itself as anonymous, Bitcoin is called pseudo-anonymous. It is the reason why the anonymous Bitcoin wallet becomes extremely useful and necessary.

The anonymous wallet is created as an identity-hiding solution for Bitcoin investors. This type of wallet allows users to store and also use cryptocurrencies anonymously. They can send and receive Bitcoin without revealing any identification, therefore, no fear of losing it. The anonymous Bitcoin wallets are diversified depends on users’ needs. The content below will figure out the most anonymous Bitcoin wallets available in the market.

The most anonymous Bitcoin wallets for mobile users

#1 Incognito Wallet

Incognito Wallet is of the optimal privacy-protection solution among the most anonymous Bitcoin wallets

Incognito Wallet is worthy to stand on the list of the most anonymous Bitcoin wallet because of its private-oriented features. This wallet allows hiding all personal information of involved parties in the transactions by employing the Zero-knowledge Proof technique. The technology ensures that the user can send Bitcoin to another party without letting this person know any information, except the amount of money he/she is transferred. It helps increase the privacy of crypto transactions to the whole new level.

Using Incognito wallet is pretty simple. All users need to do is to switch from the normal interface to “Incognito Mode” in which Bitcoin will be converted into privacy version at the same value. The wallet then connects to the public blockchain via a separate portal and thanks to so, transactions are made completely in anonymity. Both parties are able to keep their identity safely and transaction details are also impossible to be traced by any third party in the network.

This important feature of Incognito Wallet helps to solve the privacy issue more easily than ever and puts all confidential information under full control of users. More especially, it is not costly at all. Users can download the wallet freely to their iOS / Android smartphones and use instantly. More information about the useful functions of Incognito Wallet can be found on the website or through the supporting team.

#2 Samourai Wallet

The list of the most anonymous Bitcoin wallet for mobile users also includes Samourai Wallet. This Bitcoin-only wallet is integrated with innovative features and technologies which totally focus on protecting user privacy and assets.

The basic privacy features of Samoural is Tor and VPN support. These support crypto users to implement the transaction through an anonymous IP address. Additionally, this wallet also prevents users from reusing address, or in other words, each transaction is provided different addresses to send cryptocurrency to. Therefore, no one can track your exact wallet address and exploit information from it.

The most important unique selling point of this wallet is the STONEWALL mechanism. This feature is created to make it more difficult to match the input and output of a transaction together. By doing so, it seems to be impossible for someone to gather wallet address metadata.

However, as mentioned above, this wallet is dedicated only to Bitcoin and also only used in the Android platform. This is a significant downside for multi-cryptocurrency investors and iOS users.

The most anonymous Bitcoin wallets for PC and laptop users

#3 Rahakott Wallet

Rahakott Wallet is recognized as one of the most Bitcoin wallets due to the variety of privacy-focus functions and convenience in use

Rahakott Wallet is another top anonymous Bitcoin wallet but for investors who prefer a web-based version. Rahakott is an online wallet that supports multiple cryptocurrencies to meet the needs of various investors. Actually, mobile users still can use this wallet, as it is online, so you can access the wallet by any device, as long as the Internet connection is available. However, using it on a mobile interface may cause inconveniences and difficulties in manipulation.

Basically, the privacy features of Rahakott Wallet are pretty similar to what users can find in Samourai Wallet. It is also a Hierarchical Deterministic that allows crypto traders to create different addresses for each transaction. Moreover, this wallet is also integrated Tor support, and users can access their wallets through the Tor network for further privacy protection.

The outstanding feature of this web-based wallet is the built-in cryptocurrency mixer to prevent transaction tracing. The cryptocurrencies from multiple investors will be pooled together in a mixer and instead, untraceable coins will be sent to final destinations. This feature will help keep the transactions anonymously and hide all details of transaction owners from the third parties.

#4 Wasabi wallet

The most anonymous Bitcoin wallet for desktop-only users is Wasabi Wallet. This wallet is available in all popular operating systems such as Mac iOS, Windows, and Linux. It is well-built to optimize the privacy for investors and security for transactions.

Wasabi Wallet uses Chaumian Zero Link CoinJoins on Tor network to ensure anonymity. Basically, it is a technology that helps users mix their coins with other transactions by a trustless method, instead of relying on any third parties. By doing so, the coins will become untraceable. The level of anonymity will depend on the amount of users participated in CoinJoins, which means that the more users join, the higher anonymity is produced. Because of it, Wasabi Wallet has been attracted to a huge number of investors to use and join the network in spite of its relatively young age compared to the rest in the market.

Alternatively, Wasabi Wallet does not allow users to reuse addresses in their transactions. Users must create a new address every time they receive funds from another party, and when they want to send out money from the wallet, they can select one within the address repository to conduct the transaction. This feature aims to hide your address and keep your assets away from being traced.

#5 BitLox

The last name in the list of the most anonymous Bitcoin wallet is Bitlox, which is classified under the hardware wallet segment. Interestingly, Bitlox Wallet is compared as a Roll Royce in the Bitcoin wallet market due to its feature-rich that ensures the high level of security and privacy, with indestructible titanium cover. Currently, there are three models available in the market: BitLox Advanced, BitLox Ultimate, and BitLox Extreme Privacy. The last model is a highly anonymous wallet that privacy-seeking investors may be looking for.

Bitlox includes top privacy features that make it become one of the most anonymous Bitcoin wallets in the market

Apart from solid appearance, BitLox Extreme Privacy set accompanies by a military-grade USB vault with the Tails OS pre-installed. This is the first hardware wallet that includes TAILS pre-installed. TAILS (The Amnesic Incognito Live System) is a live operating system that focuses on preserving privacy and anonymity. It is designed to use in almost computers without leaving any digital footprint of users, such as browser history. With this feature, users can transfer funds to other parties in complete anonymity through the Tor network, without the fear that their transactions will be traced.

BitLox Extreme Privacy’s downside is expensive price compared to other competitors in the same segment, even the most popular ones from Ledger or Trezor brands. Additionally, Bitlox only supports Bitcoin at the moment. Therefore, its target customers are also narrowed down significantly.